Sezzle has started the week strongly…
The post Why the Sezzle (ASX:SZL) share price is lifting this week appeared first on The Motley Fool Australia. –
The Sezzle Inc (ASX: SZL) share price has been a positive performer this week.
Over the last three trading sessions, the buy now pay later (BNPL) provider’s shares have risen 3.5%.
Why is the Sezzle share price rising this week?
There appear to have been a couple of catalysts for the rise in the Sezzle share price this week.
One is the release of its full year results on Monday. Although much of this result was pre-released earlier in the month, investors appear to have been pleased with some of management’s comments.
For example, in its report it reminded investors of its major deal with Discover Financial Services.
It said: “On July 14, 2021, Sezzle agreed to issue Discover Financial Services LLC $30,000,000 of the Company’s common stock at a price of $6.58 per share (A$8.83), which was completed on July 19, 2021. The Company and Discover are finalizing a definitive commercial agreement, in which the parties propose to enter into an expanded partnership, including plans for a buy now, pay later network solution on the Discover Global Network, as well as a dedicated referral program introducing Discover credit and debit products to the Company’s consumer base.”
This has the potential to give its customer numbers and underlying merchant sales a major boost once operational. Which could be good news for the Sezzle share price.
What else has been happening?
Also potentially giving the Sezzle share price a boost is an announcement out of the company yesterday.
According to the release, Sezzle is partnering with California Pet Pharmacy, an accredited online pet pharmacy dispensing pet medications to all 50 states.
The partnership will see Sezzle become the preferred BNPL option for California Pet Pharmacy. This will allow pet owners to create a healthy lifestyle for their pets without the financial burden that comes with purchasing expensive pet medications.
Sezzle’s Chief Revenue Officer, Veronica Katz, commented: “We are very pleased to launch our partnership with California Pet Pharmacy. As the Buy Now, Pay Later space heats up, the necessity for consumers to split payments in a safe and reliable way is growing across all industries.”
Management notes that debuting BNPL in pharmaceuticals and pet care is a natural next step for Sezzle as it focuses on bringing flexible payments to consumers across all verticals.
The Sezzle share price is up 5% in 2021.
Should you invest $1,000 in Sezzle right now?
Before you consider Sezzle, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Sezzle wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
Sezzle (ASX:SZL) share price flat despite $30 million loss
Sezzle (ASX:SZL) eyes US market, share price jumps
The Sezzle (ASX:SZL) share price has crashed 21% in a week
Why Breville, CBA, Magellan, & Sezzle shares are tumbling lower today
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.